2024 IN REVIEW

From Challenge to Change — What's Next for 2025

Thank you to all our Member-Owners for your continued support, loyalty, and belief in our Co-operative’s vision. This year tested our resilience in more ways than one — from economic headwinds and a significant cyber security event to rising operational costs. Despite these challenges, we found opportunities for growth, innovation, and community strength that reminded us of our purpose. Here are a few highlights from the year:

Growth & Innovation
Our St. Paul Pharmacy launched a pharmacist-led walk-in clinic — the first of its kind in an Alberta Co-op Pharmacy. Staffed by our own licensed pharmacists, the clinic offers assessment, diagnosis, and treatment for a variety of ailments, helping reduce pressure on local hospital emergency rooms.

Operational Efficiency
We acted on unique opportunities to improve our operations. In Wainwright, we downsized our oversized food store and made space on our property for two new tenants — Dollarama and Wendy’s. These partnerships will bring increased traffic, long-term lease revenue, and shared operational costs to the site.

Community Sustainability
Our commitment to community remains unwavering. In 2024, 334 local groups benefited from more than $190,000 in donations and sponsorships through programs like Fuel Good Day and Feeding the Future. Additionally, our Loop program diverted over 1,100 kg of food waste each week to local farms — reducing landfill use and supporting agriculture.

Financial Overview
Financially, it was a challenging year. While we improved local savings compared to 2023, our patronage refund from Federated Co-operatives Limited (FCL) was significantly lower due to their reduced profitability. Warmer winter weather led to decreased fuel sales, and a major cyber security incident at FCL during the summer disrupted the supply of food, hardware, and commercial fuel, further impacting revenues. As a result, our 2024 Net Savings totaled $1.7 million, compared to $3.5 million in 2023.

Despite this, we made strategic adjustments across our operations and remained profitable. The Cornerstone Board of Directors is proud to share an equity allocation of $1.2 million — including $1 million in cash — to 7,500 Member-Owners who purchased fuel, oil, propane, food, and pharmacy items. We acknowledge that, unfortunately, no profit-sharing was possible this year on purchases from our liquor stores and home centres in 2024.

Looking Ahead
We remain cautiously optimistic heading into 2025. No major capital expenditures are planned. Instead, we are focusing on what matters most: operational excellence, local profitability, and strengthening our community connections.

To our Member-Owners — you are the heart of our organization. Your trust fuels our efforts, and your feedback continues to guide our evolution. Thank you for standing by us.

We are proud to be Best in Local, Western Canadian, and Generationally Owned.

Kory Kralkay
Chief Executive Officer
Cornerstone Co-op